Why Small Businesses Are Worried About What They’re Hearing On The Campaign Trail

The typical American voter considers issues like immigration, climate change and education when deciding who they support for President. But for small business owners, the most important issues during an election year are the economy and tax policies. Right now, business owners are concerned that those issues aren’t being made a priority on the campaign trail.

A Fox Business article and segment points to the latest Wells Fargo and Gallup Small Business Index that shows business owners are cautious when it comes to their outlook on the economy and the year ahead. That’s because the front-runners in the race for the White House—on both sides of the political spectrum—are running on other platforms.

“The focus of their campaigns have either been on anti-business or initiatives that have been focusing on income equality, raising the minimum wage. There’s not been a lot of focus on tax issues, and that’s what matters most to businesses,” said Mark Vitner, managing director and senior economist at Wells Fargo in an interview with Fox Business.

The National Federation of Independent Business also reports that only eight percent of its survey respondents said the current political climate would support plans to expand businesses. That statistic is a two-year low for the organization.

Beyond the economy and tax policies, small business owners pay attention to health care and business regulations before heading to the polls. Health care costs and operating guidelines determine how businesses are able to move forward and grow, and owners are concerned those issues aren’t getting the time in the spotlight that they deserve.

“They’d like to increase worker pay, but because health care costs are rising, they don’t have a lot left for wage and salary gains. Another big issue is potential changes to the tax code, and I think we haven’t really heard that much [from the candidates],” said Vitner.